accenture technology vision for industrial 2016
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Industrial & Automotive: retooling for digital advantageAccenture Technology Vision for Industrial 2016
Pivoting to digital: New technologies are not just transforming how industrial companies manufacture their products. They are also having a profound impact on workforce and marketplace dynamics, creating new pathways for collaboration – amongst people, machines and organizations. Increasingly, companies’ destinies will be defined by how successfully they use digital to reorient their workforces, enable collaboration and both anticipate and drive disruption.
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More and more companies are discovering that it’s how technology and people work together that is creating whole new vistas of opportunity. It is a phenomenon that is playing out in all five key trends of this year’s Accenture Technology Vision for Industrial 2016:
The five technology trends for Industrial
Intelligent Automation
LiquidWorkforce
Platform Economy
Predictable Disruption
Digital Trust
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Automation is a defining characteristic of industrial businesses everywhere. But today, its principal purpose is no longer solely cost reduction and operational efficiency. In fact, in our survey, industrial executives say that their top reason for automating tasks is to innovate and create new business models.
IntelligentAutomationThe essential newco-worker for the digital ageTREND ONE
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Machines and software intelligence are bringing new skills into the workplace
The people + machines nexus will create “The Perceptive Enterprise”: companies that sense and respond rapidly to the needs of their businesses and customers
The industry is investing more in automation.
have increased their investments in deep learning
85%plan to up their spend on machine learning
78%
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The penetration of digital technologies into industrial companies is having a profound impact on the workforce in these organizations. The priority for most companies is now to find ways of reskilling and retooling their people to take advantage of the enormous benefits that digital can bring.
LiquidWorkforceThe workforce fortoday’s digital demands
TREND TWO
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Enterprises with liquid workforces focus on building fluidity into three main areas: skills, projects and organization
of executives believe training is more important than ever
have started building a future-fit workforce
of executives believe a more fluid workforce will improve innovation
In a connected world, a holistic view of the value chain is essential. To achieve that, companies are investing in collaboration solutions
90%
22%
Industrial executives know their people need new skills but just
75%
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While there has been arguably less visible platform development in large industrial and automotive companies than in consumer industries, this is changing and fast. Companies are now investing heavily in digital innovation, with platform business models at the heart of their investment strategies for digital transformation.
PlatformEconomyInnovation from theoutside, in
TREND THREE
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Platform-based business models, and the strategies they enable, are driving profound global macroeconomic changes
of industrial executives agree that in a digital world, platform business models are a must-have
The car is becoming a “platform on wheels.” Once automotive gets a common industry standard for APIs, the connected vehicle market will surge ahead
84%
Executives ranked “Asymmetrical Growth” as the most important growth strategy over the next three years
Enabled by platforms, they are capturing new revenues from complementary markets
Companies are getting more innovative with platforms, distinctions between tech giants and industrial players are increasingly superfluous
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Businesses have always collaborated. But digital is transforming where and between whom that collaboration can take place. In short, all limits have been lifted. The focus on creating a better product is shifting to a customer-centric mindset where service, experience and outcomes should dominate thinking.
PredictableDisruptionDigital ecosystems drivethe next wave of change
TREND FOUR
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Fast-emerging digital ecosystems, and the businesses that power them, are blurring industry boundaries
Every aspect of the industry is being disrupted by digital platforms and ecosystems. Companies are thinking in new customer-driven ways and shifting the focus from products to solutions
of companies believe industry boundaries are being erased and new paradigms are emerging
agree they are under pressure to reinvent and evolve before they are disrupted
82%
84%
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As companies’ products become increasingly smart and connected, they are inadvertently offering new opportunities to cyber attackers and possibilities for data breaches that can imperil business reputations and destroy customer trust.
DigitalTrustStrengthening customerrelationships throughethics and securityTREND FIVE
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With every digital advancement creating new vectors for risk, trust is becoming the cornerstone of the digital economy
of executives believe they are exposed to more digital risks than they can handle
report that compared to two years ago, they have suffered from twice as many privacy/security breaches
75%
48%
Smart products expose companies to the same risks as tech companies. A new approach to product development and design is needed, with security and privacy embedded throughout the supply chain
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Next StepsDigital technologies and an evolving workforce together create an environment that is challenging companies to take a strategic approach to aligning their people and technology. Automotive and Industrial companies looking to take their next steps in this evolution should consider the following actions:
Appoint a C-level champion to lead across-functional team of technologists and business experts to explore how automation can help reinvent the business
Prepare the workforce to work effectivelywith intelligent automation
Involve the workforce in designing and managing the change journey that intelligent automation requires
Assess existing organizational models to ensure they remain relevant in the digital world
Identify and prioritize parts of the business that are primed for platform business models
Identify areas of the business that are vulnerable to disruption from new platform-based business models
Recognize the opportunities emerging from the Industrial Internet of Things and develop strategies to drive benefits
Meet industry experts to review trends and identify areas of future disruption
Consider security implications of connected devices, equipment and products carefully, address them upfront and make sure to extend security "beyond the product"
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Contact us to learn more
Eric SchaefferGlobal Industrial [email protected]
David MartynyGlobal Industrial Technology Consulting [email protected]
Join the conversation @AccentureInd
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